A couple of weeks ago, there were rumors that HTC was either interested in acquiring MOG or it already has. Unfortunately both HTC and MOG have declined to comment on the issue, at least until now when Beats Electronics’ Jimmy Iovine revealed that his company was looking at trying their hand at the music subscription game. In a statement made to Businessweek:

“We are looking at this area,” Iovine says. “Right now, subscription music online is culturally inadequate. It needs feel. It needs culture. What Apple has in the downloading world is very, very good. But subscription has an enormous hole in it, and it’s not satisfying right now.”

Unfortunately when pressed to reveal the details of what such a service he had in mind, Iovine replied by saying, “I can’t show the magic trick.” Since HTC owns 51% of Beats, it would not be a complete surprise if this music subscription service that Iovine has planned makes its way into future HTC devices, but this still does not confirm nor deny the rumors that the Taiwanese company may have bought or is interested in buying MOG.